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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 114,573 $ 143,872
Restricted cash 5,643 35,492
Due from charterers, net of a reserve of $1,403 and $669, respectively 20,116 12,991
Prepaid expenses and other current assets 9,935 10,856
Inventories 24,563 21,583
Vessels held for sale   22,408
Total current assets 174,830 247,202
Noncurrent assets:    
Vessels, net of accumulated depreciation of $253,005 and $204,201, respectively 981,141 919,114
Deposits on vessels 18,543  
Vessels held for exchange   38,214
Deferred drydock, net of accumulated amortization of $12,879 and $8,124 respectively 14,275 14,689
Fixed assets, net of accumulated depreciation and amortization of $3,984 and $2,266, respectively 7,237 6,393
Operating lease right-of-use assets 5,495 6,882
Restricted cash 315 315
Fair value of derivative instruments 1,166  
Total noncurrent assets 1,028,172 985,607
Total assets 1,203,002 1,232,809
Current liabilities:    
Accounts payable and accrued expenses 29,956 22,793
Current portion of long-term debt   80,642
Deferred revenue 10,081 8,421
Current operating lease liabilities 1,858 1,765
Total current liabilities: 41,895 113,621
Noncurrent liabilities:    
Long-term operating lease liabilities 6,203 8,061
Contract liability   7,200
Long-term debt, net of deferred financing costs of $7,771 and $9,653, respectively 238,229 358,933
Total noncurrent liabilities 244,432 374,194
Total liabilities 286,327 487,815
Commitments and contingencies (Note 15)
Equity:    
Common stock, par value $0.01; 500,000,000 shares authorized; 41,924,597 and 41,801,753 shares issued and outstanding as of December 31, 2021 and December 31, 2020, respectively 419 418
Additional paid-in capital 1,702,166 1,713,406
Accumulated other comprehensive income 825  
Accumulated deficit (786,823) (968,830)
Total Genco Shipping & Trading Limited shareholders' equity 916,587 744,994
Noncontrolling interest 88  
Total equity 916,675 744,994
Total liabilities and equity $ 1,203,002 $ 1,232,809